New era for loss adjusters as Udobi rolls out reform plan

A new chapter is unfolding for Nigeria’s loss adjusting profession as Ike Udobi steps in as the 14th president of the Institute of Loss Adjusters of Nigeria (ILAN), signaling an ambitious shift from routine practice to strategic relevance in a rapidly evolving risk landscape.

Unveiling a bold five-point reform agenda, at the investiture ceremony held in Lagos Udobi set the tone for what he describes as a “new era” anchored on professional standardisation, digital transformation, stronger regulatory advocacy, capacity building, and deeper stakeholder engagement.

His blueprint not only aims to reposition loss adjusters as critical players in Nigeria’s insurance value chain, but also to drive growth, restore public confidence, and aligns the institute with global best practices.

Patrick Arah, chairman of the investiture ceremony and CEO Dekelob & Associates Limited while congratulating Udobi for emerging as the 14th president of ILAN, charged him to rise to the occasion, noting that the business environment is changing rapidly.

He said digital transformation is reshaping industries, new risks are emerging, climate related incidents are becoming more prominent, regulatory expectations continue to evolve, while stakeholders are more informed and the demand for accountability is growing stronger.

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He advised the new ILAN president to strengthen governance structure and internal accountability, pointing that strong institutions are not built on personalities alone, but on systems, discipline and continuity.

Arah also charged him to promote transparency in operations and financial management, invest in continuous professional education, encourage mentorship and deepen collaboration with regulators and allied professional bodies.

Ebelechukwu Nwachukwu, managing director/CEO, Rex Insurance Limited who was the guest speaker at the investiture delivered a compelling call for trust, transparency, and professionalism as the bedrock for repositioning Nigeria’s insurance industry.

She stressed that “leadership in the profession goes beyond titles, describing it instead as “stewardship, responsibility, and a deep commitment to advancing the integrity of the profession in Nigeria.”

Anchoring her address on the theme “Trust, Transparency and Insurance,” she underscored that insurance, at its core, is built on confidence. “It is a promise that when uncertainties arise, there will be support; when loss occurs, there will be fairness; and when people place their confidence in the system, that confidence will not be betrayed,” she said.

According to her, trust remains the “true currency” of the insurance industry, warning that without it, the entire risk management framework that supports the economy could weaken. “Without trust, insurance becomes mere paperwork. Without trust, policies become meaningless documents,” she added.

Nwachukwu highlighted the critical role of loss adjusters within the insurance value chain, describing them as operating at one of the most sensitive points of the system. She explained that their responsibilities extend beyond post-loss assessments to include pre-loss surveys that help insurers and policyholders understand risks and strengthen risk management practices.

“When losses occur, loss adjusters ensure that claims are processed and assessed objectively, professionally, and in line with policy terms. In many ways, they serve as guardians of fairness within the insurance landscape,” she said.

She further illustrated the impact of professionalism with a real-life example of a client who suffered a major fire incident. The client’s confidence in the claims process, she noted, was shaped by the diligence and transparency of the loss adjuster. “By the end of the process, the client not only understood his policy better but also sought to retain the adjuster as an advisor,” she recounted.

The Rex Insurance boss also emphasised the importance of professional bodies like ILAN in driving industry standards. She noted that the institute plays a vital role in promoting competence, ethics, discipline, and continuous learning among practitioners, thereby sustaining confidence in the sector.

As the industry evolves amid rapid technological changes and rising customer expectations, Nwachukwu called for stronger collaboration across all stakeholders. “Insurers cannot operate in isolation. Loss adjusters cannot operate in isolation. Brokers and regulators must work together toward a shared objective, building an insurance industry that Nigerians trust,” she said.